Coal India Ltd.

Coal India is likely to revise its product prices during the April-June quarter to balance wage hike as it has effected a 30% wage hike to its 3.65 lakh employees last month, which will incur an additional wage burden of Rs 6,500 crore. It is going to review the new Gross Calorific Value (GCV) based mechanism after assessing its March quarter performance.

The company has put off price hike under GCV mechanism in the last month, following protests from consumers in sectors such as power and cement. Earlier, in the Useful Heat Value (UHV) method, the pricing was decided on the ash and the moisture of coal.

Coal India is the largest coal producing company in the world. The company also produces non-coking coal and coking coal of various grades for diverse applications.